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Productivity Growth in Germany: No Sustainable Economic Recovery in Sight

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Author Info
Georg Erber
Ulrich Fritsche

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Abstract

By international comparison the productivity development of the overall economy in Germany has taken a serious hit after the reunification boom. Since then Germany has fallen behind not only in comparison to the USA and emerging-market nations like South Korea, but also in comparison to other EU countries. However, the economic upswing in 2006 led to a temporary increase in hourly productivity of labor per employed person. Can this increase be interpreted as a return to a higher trend growth? Econometric tests indicate that it probably primarily concerns a cyclically induced increase. Thus the decline of the medium-term growth rate came at best to a standstill. If the productivity growth should improve on a sustained basis, then a growth-orientated economic policy is required.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.96059.de/diw_wr_2009-3.pdf
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Publisher Info
Article provided by DIW Berlin, German Institute for Economic Research in its journal Weekly Report [Elektronische Ressource].

Volume (Year): (2009)
Issue (Month): 3 ()
Pages: 19-25
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Handle: RePEc:diw:diwwrp:wr5-3

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Related research
Keywords: Productivity growth; Time series; decomposition; Business cycle; Long-term trend;

Find related papers by JEL classification:
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production
E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation

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This page was last updated on 2009-11-27.

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